Oil gains on U.S. crude stocks fall, OPEC comments on slower U.S. shale growth
Oil rose on Thursday after industry data showed a surprise drop in U.S. crude inventories, while comments from an OPEC official about lower-than-expected U.S. shale production growth in 2020 also provided some support.
Daimler seeks 1 billion euros in savings at Mercedes-Benz by cutting jobs
Tougher emissions rules will hit Daimler’s profits in 2020 and 2021, prompting the German carmaker to seek more than 1 billion euros ($1.1 billion) in savings from cutting staff costs at its Mercedes-Benz business by the end of 2022, it said on Thursda…
Stocks dip as China slowdown deepens, German economy weak
World stocks nudged down on Thursday as Chinese economic data slowed in October and Germany only narrowly avoided a recession in the third quarter, adding to worries about the global growth fallout from the U.S.-China trade war.
Boeing drops automation system used to build 777 jets
Boeing Co has abandoned a key automation system used to make fuselage sections for its 777 jetliners amid reports of reliability issues, and will instead partially switch back to mechanics, the planemaker said on Thursday.
China says holding ‘in-depth’ talks with U.S. on interim trade deal
China and the United States are holding “in-depth” discussions on a first phase trade agreement, and cancelling tariffs is an important condition to reaching a deal, the Chinese commerce ministry said on Thursday.
Alibaba goes paperless for $13.4 billion listing in a first for Hong Kong: source
Alibaba Group will carry out Hong Kong’s first paper-less stock market listing with its $13.4 billion share sale, according to a source with knowledge of the matter, ending the long-held tradition of Hong Kong investors queuing in bank branches to place stock orders.
In swaps we trust? Disappearing dollars drive currency trading dependence
As dollars dry up, global finance is growing increasingly dependent on opaque currency trading to keep cash flowing.
Factbox: Dollar domination – why global markets depend on the U.S. currency
From the dominant reserve currency for central banks to the main conduit for global trade and borrowing, U.S. dollars are the lifeblood for banks and markets around the world.
Factbox: FX swaps step from market obscurity to global stage
Foreign exchange swap volumes have risen in the past three years to account for nearly half of the entire FX market, Bank for International Settlements (BIS) data shows.
Oil gains on U.S. crude stocks fall, OPEC comments on slower U.S. shale growth
Oil rose on Thursday after industry data showed a surprise drop in U.S. crude inventories, while comments from an OPEC official about lower-than-expected U.S. shale production growth in 2020 also provided some support.
